About Market Manipulation and Insider Trading

The European Union regime for fighting market manipulation and insider trading – commonly referred to as market abuse – was significantly reshuffled in the wake of the financial crisis of 2007/2008 and new legal instruments to fight market abuse were eventually adopted in 2014. In this monograph the authors identify the association between the financial crisis and market abuse and then critically consider the legislative, policy and enforcement responses in the European Union, and contrast it with the approaches adopted by the United States of America and the United Kingdom respectively. The aftermath of the financial crisis, ongoing security concerns and increased legislation and policy responses to the fight against irregularities and market failures demonstrate that we need to understand the regulatory responses taken in this area in context. Specifically, book investigates how the regulatory responses have changed over time since the start of financial crisis. Therefore, the book places the fight against market abuse in the broader framework of the fight against white collar-crime and also considers some associated questions in order to better understand the contemporary market abuse regime.

Ester Herlin-Karnell is Professor in EU law and University Research Chair of EU Constitutional Law and Justice and the Director of the VU Centre for European Legal Studies at the Free University of Amsterdam.